12. Leases

The Company has leased vehicles, furniture and fixtures, computer equipment and servers, and plants, machinery and equipment from various lessors under capital lease arrangements which are not material to the consolidated financial statements.

The Company conducts its operations using facilities under non-cancellable operating lease agreements that expire at various dates. Future minimum lease payments under these agreements are as follows:

As of December 31:
2017	$	52,612
2018		48,897
2019		43,886
2020		39,305
2021		35,354
2022 and beyond		115,921
Total minimum lease payments	$	335,975

Rental expenses in agreements with rent holidays and scheduled rent increases are recorded on a straight-line basis over the applicable lease term. Rent expenses under cancellable and non-cancellable operating leases were $57,178, $50,342 and $50,827 for the years ended December 31, 2014, 2015 and 2016, respectively.

The rental expenses set out above include the effect of the reclassification of foreign exchange (gains) losses related to the effective portion of foreign currency derivative contracts amounting to $1,823, $2,037 and $598 for the years ended December 31, 2014, 2015 and 2016, respectively.